Net profit of Jindal Drilling & Industries declined 3.66% to Rs 9.48 crore in the quarter ended June 2016 as against Rs 9.84 crore during the previous quarter ended June 2015. Sales rose 11.24% to Rs 92.66 crore in the quarter ended June 2016 as against Rs 83.30 crore during the previous quarter ended June 2015.

Particulars

Quarter Ended

n++

Jun. 2016

Jun. 2015

% Var.

Sales

92.66

83.30

11

OPM %

9.89

12.74

-

PBDT

14.55

18.68

-22

PBT

12.09

15.01

-19

NP

9.48

9.84

-4

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Max Financial Services to hold board meeting

Oct 24,2016

Max Financial Services will hold a meeting of the Board of Directors of the Company on 4 November 2016 un-audited financial results of the Company together with Limited Review by the Auditors for the quarter and half year ended September 30, 2016 (Q2).

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Gagan Gases to hold board meeting

Oct 24,2016

Gagan Gases will hold a meeting of the Board of Directors of the Company on 29 October 2016 to take on record unaudited financial results for the quarter ended September 30, 2016.

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Advani Hotels & Resorts (India) to hold board meeting

Oct 24,2016

Advani Hotels & Resorts (India) will hold a meeting of the Board of Directors of the Company on 2 November 2016 to consider and approve the Unaudited Financial Results for the Second quarter (Q2) and Half year (H1) ended September 30, 2016.

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Kriti Industries (India) to hold board meeting

Oct 24,2016

Kriti Industries (India) will hold a meeting of the Board of Directors of the Company on 10 November 2016 to consider and approve the Un-Audited Financial Results for the Quarter and Half Yearly ended September 30, 2016.

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Fortune Financial Services (India) to hold board meeting

Oct 24,2016

Fortune Financial Services (India) will hold a meeting of the Board of Directors of the Company on 14 November 2016 to consider and approve the un-audited (consolidated and Stand-alone) financial results of the Company for the quarter and half year ended on September 30, 2016.

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Pennar Industries to hold board meeting

Oct 24,2016

Pennar Industries will hold a meeting of the Board of Directors of the Company on 10 November 2016 to consider, approve and take on record the Un-Audited Financial Results (Standalone and consolidated) for the Quarter ended September 30, 2016.

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Ultramarine & Pigments to hold board meeting

Oct 24,2016

Ultramarine & Pigments will hold a meeting of the Board of Directors of the Company on 12 November 2016 to consider unaudited financial results for the second quarter and half year ended September 30, 2016.

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STI India to hold board meeting

Oct 24,2016

STI India will hold a meeting of the Board of Directors of the Company on 5 November 2016 to consider & approve Un-audited Financial Results of the Company for the quarter ended September 30, 2016 and other routine matters.

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Kennametal India to hold board meeting

Oct 24,2016

Kennametal India will hold a meeting of the Board of Directors of the Company on 14 November 2016 to consider the un-audited financial results of the Company for the first quarter ended September 30, 2016.

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Union Bank of India gains as board to consider fund raising

Oct 24,2016

The announcement was made after market hours on Friday, 21 October 2016.

Meanwhile, the S&P BSE Sensex was up 68.40 points or 0.24% at 28,145.58

On BSE, so far 2.16 lakh shares were traded in the counter as against average daily volume of 6.20 lakh shares in the past one quarter. The stock hit a high of Rs 150.75 and a low of Rs 147.25 so far during the day. The stock had hit a 52-week high of Rs 173.90 on 1 December 2015. The stock had hit a 52-week low of Rs 104.05 on 29 February 2016. The stock had outperformed the market over the past 30 days till 21 October 2016, rising 0.89% compared with 2.42% decline in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 16.25% as against Sensexs 0.99% rise.

Union Bank of Indias net profit fell 67.9% to Rs 166.32 crore on 1.4% decline in total income to Rs 8916.51 crore in Q1 June 2016 over Q1 June 2015.

Union Bank of India is one of largest state-owned banks in India. The Government of India (GoI) held 63.44% in Union Bank of India (as per the shareholding pattern as on 30 September 2016).

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Sun Pharma gains after completing divestment of 7 brands to RPG

Oct 24,2016

The announcement was made after market hours on Friday, 21 October 2016.

Meanwhile, the BSE Sensex was up 59.06 points, or 0.21%, to 28,136.24.

On BSE, so far 47,000 shares were traded in the counter, compared with average daily volume of 2.80 lakh shares in the past one quarter. The stock hit a high of Rs 754.95 and a low of Rs 746.45 so far during the day. The stock hit a 52-week high of Rs 909.90 on 27 October 2015. The stock hit a 52-week low of Rs 706.40 on 24 November 2015. The stock had underperformed the market over the past 30 days till 21 October 2016, falling 5.05% compared with 2.42% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 5.20% as against Sensexs 0.99% rise.

The large-cap company has equity capital of Rs 240.68 crore. Face value per share is Re 1.

Sun Pharmaceutical Industries (Sun Pharma) said it completed the divestment of its seven prescription brands in India to RPG Life Sciences. This has been done after receiving approval of the Competition Commission of India (CCI) and completion of all the necessary formalities for closure of the transaction, Sun Pharma said in a filing.

On 27 July 2016, Sun Pharma had informed that it had signed an pact with RPG Life Sciences to divest seven brands in India, owned by Sun Pharma and its subsidiary, for a consideration of Rs 41 crore.

Sun Pharmaceutical Industries is the worlds fifth largest specialty generic pharmaceutical company and Indias top pharmaceutical company.

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Inox Wind gains after winning order

Oct 24,2016

The announcement was made before trading hours today, 24 October 2016.

Meanwhile, the BSE Sensex was up 36.28 points, or 0.13%, to 28,113.46.

On BSE, so far 11,000 shares were traded in the counter, compared with average daily volume of 89,869 shares in the past one quarter. The stock hit a high of Rs 227.90 and a low of Rs 224.30 so far during the day. The stock hit a 52-week high of Rs 411.55 on 26 October 2015. The stock hit a record low of Rs 161 on 6 September 2016. The stock had outperformed the market over the past 30 days till 21 October 2016, rising 7.12% compared with 2.42% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 2.86% as against Sensexs 0.99% rise.

The mid-cap company has equity capital of Rs 221.92 crore. Face value per share is Rs 10.

ReNew Power Ventures, Indias leading clean energy company, has issued a repeat order to Inox Wind for a 50 megawatts (MW) wind power project to be executed in the state of Gujarat in India. ReNew Power is Indias leading independent power producer of clean energy with more than 3,000 MW of commissioned and under construction assets. This is a turnkey project and is scheduled to be commissioned by March 2017. The 50 MW order from ReNew Power is part of the 350 MW of orders announced by Inox Wind on 3 October 2016.

As part of the order, Inox will supply and install 25 units of its advanced 2MW DFIG 113 rotor dia Wind Turbine Generators (WTGs) for Renew Power. Inox Winds 113 meter rotor dia WPG is the newest variant of the companys market leading 2 MW platform. It significantly increases annual energy production and is especially suited for low wind segments in the country.

On a consolidated basis, net profit of Inox Wind declined 80.44% to Rs 11.82 crore on 32.64% decline in net sales to Rs 432.35 crore in Q1 June 2016 over Q1 June 2015.

Inox Wind is a fully integrated player in the wind energy market with three manufacturing plants at Gujarat, Himachal Pradesh and Madhya Pradesh.

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MindTree slips after weak Q2 earnings

Oct 24,2016

The result was announced after market hours on Friday, 21 October 2016.

Meanwhile, the BSE Sensex was up 26.52 points, or 0.09%, to 28,103.70.

On BSE, so far 1.22 lakh shares were traded in the counter, compared with average daily volume of 79,569 shares in the past one quarter. The stock hit a high of Rs 464.60 and a low of Rs 452.10 so far during the day. The stock hit a record high of Rs 803.50 on 4 March 2016. The stock hit a 52-week low of Rs 452.10 on 24 October 2016. The stock had underperformed the market over the past 30 days till 21 October 2016, faling 5.99% compared with 2.42% decline in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 14.02% as against Sensexs 0.99% rise.

The mid-cap company has equity capital of Rs 167.96 crore. Face value per share is Rs 10.

MindTrees consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) fell 16.9% to Rs 162.10 crore in Q2 September 2016 over Q1 June 2016. EBITDA margin was reported at 12.5% in Q2 September 2016, lower than 14.7% in Q1 June 2016.

In a separate announcement after market hours on Friday, 21 October 2016, the company said that its board at its meeting on 18 July 2016 had approved the scheme of amalgamation of Magnet 360, LLC with Mindtree. The board, at its meeting held on 21 October 2016 have decided not to pursue further and has approved withdrawal of the scheme of amalgamation of Magnet 360, LLC with Mindtree.

MindTree delivers digital transformation and technology services from ideation to execution, enabling Global 2000 clients to outperform the competition. n++Born digital,n++ Mindtree takes an agile, collaborative approach to creating customized solutions across the digital value chain. At the same time, our deep expertise in infrastructure and applications management helps optimize your IT into a strategic asset. Whether you need to differentiate your company, reinvent business functions or accelerate revenue growth, we can get you there.

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Oberoi Realty advances after good Q2 result

Oct 24,2016

The result was announced after market hours on Friday, 21 October 2016.

Meanwhile, the S&P BSE Sensex was up 42.31 points or 0.15% at 28,119.49

On BSE, so far 15.42 lakh shares were traded in the counter as against average daily volume of 14,355 shares in the past one quarter. The stock hit a high of Rs 347 and a low of Rs 330.95 so far during the day. The stock had hit a record high of Rs 348.55 on 17 October 2016. The stock had hit a 52-week low of Rs 210.15 on 12 February 2016. The stock had outperformed the market over the past 30 days till 21 October 2016, rising 13.28% compared with 2.42% decline in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 11.69% as against Sensexs 0.99% rise.

The large-cap company has equity capital of Rs 339.38 crore. Face value per share is Rs 10.

Oberoi Realty said that total area booked was 1.77 lakh square feet in Q2 September 2016 as against 0.63 lakh square feet in Q2 September 2015. The latest order book stands at Rs 4043 crore as against Rs 2723 crore at the end of half year ended September 2015.

Commenting on the results, Vikas Oberoi, Chairman & Managing Director, Oberoi Realty said that the real estate sector has been influenced by some significant policy changes, recent being the monetary policy announced by RBI, which will bring the cost of money down and encourage sales. Additionally, the various initiatives announced by the government have improved market sentiments thus accelerating sales volumes. The Maharashtra governments sustained focus on infrastructure in Mumbai is helping bridge the infrastructure divide, acting as an added incentive for the sector.

Oberoi Realty is Indias leading real estate development company, headquartered in Mumbai, focused on premium developments in the residential, office space, retail, hospitality and social infrastructure verticals.

The Basel Committee on Banking Supervisions (BCBS) recent proposals regarding the use of models in calculating risk-weighted capital ratios among medium to large-sized banks would help make minimum capital requirements more consistent across banks, Moodys Investors Service says in a report.

The report Banks -- Global: Basel Proposals Restricting Models Broadly Impact GSIBs Risk-Weighted Assets, focuses on the impact that the reforms would have on so-called global systemically important banks, both in the US and Europe.

The new rules would largely replace internal modeling with a standardized approach to calculating capital. BCBS has proposed removing models completely as a tool for measuring operational risk, significantly restricting internal model use in a large number of credit risk portfolios and using floors in cases where models are still used.

Greater consistency in reported capital ratios is a positive development, says Meredith Roscoe, a Vice President and Senior Research Analyst at Moodys.

The proposed changes are likely to have the greatest impact on risk-weighted asset calculations for the large US banks and banks in Europe, given the current prevalence of modeled approaches across risk areas for these banks.

These banks are most likely to use advanced (model-based) approaches to calculating capital and are the main lenders to low-default large corporate borrowers and financial counterparties, who are the largest consumers of counterparty, market and operational risk.

If the proposals were to be implemented in their current form, capital requirements could increase for many banks. However, as authorities have said the intention of these changes is not to increase capital requirements overall, but rather to reduce variability in risk-weighted assets for similar exposures across banks, the final rules might include offsets or changes from what has been proposed to date.

Recent comments from European Union officials suggest that the proposals will not be adopted by European authorities unless they are modified, while reports suggest that US and Swiss officials are more supportive of the current proposals. Moodys view is that a breakdown of the international agreement on capital rules would be credit negative as it could lead to further fragmentation of capital standards.

Moodys also highlights that the proposed changes to the calculation of risk weights should be viewed in context of Basel IIIs entire capital framework and the importance of additional capital adequacy metrics outside of the risk-weighted capital ratio, which are equally as binding. This includes the unweighted leverage ratio requirement and annual stress testing in the US, UK and Europe for the largest banks.